PPI Reclaiming Discussion part 4

sjc03101972

hi all, just venturing out into the PPI claim back, have found a couple of ones, but can i claim for older ones as my credit report only goes back 6 years and i know i have only completed some within that time? thanks Sarah

fioewi

cappo wrote: »

fioewi wrote: »

Hi fiona don't use a claims company diy it's easy and no i definitely don't think you'd be wasting your time, i've claimed back to 95 on here and people have gone back much further we're here for whatever you need don't give carte blanch to a cmc you can diy quicker yourself.

Thanks for that, just thought that if they wouldn't touch my case it wouldnt be worth looking into myself.

Sorry more questions! How far can I go back to check on experian's website? Am I correct in saying I should use them as a starting point to confirm that I am recalling having loans with the correct companies first before shelling out money for the SAR iykwim

cappo

fioewi wrote: »

cappo wrote: »

Thanks for that, just thought that if they wouldn't touch my case it wouldnt be worth looking into myself.

Sorry more questions! How far can I go back to check on experian's website? Am I correct in saying I should use them as a starting point to confirm that I am recalling having loans with the correct companies first before shelling out money for the SAR iykwim

Hi fiona as sjc says above, your credit report will probably only go back 6 years you could just ask the bank by going into the branch you never know, they should give you the info

cappo

sjc03101972 wrote: »

hi all, just venturing out into the PPI claim back, have found a couple of ones, but can i claim for older ones as my credit report only goes back 6 years and i know i have only completed some within that time? thanks Sarah

Hi sjc you can certainly go back to the early 90's some banks will say they haven't got any record of the paperwork but i'd take that with a pinch of salt.

Metoyou

cappo wrote: »

Hi metoyou if it was a loan from then it should have been upheld anyway as it was obviously front loaded which is a big no no, anyway fos it now, i've even had barclays uphold one of mine then reject it again what sort of bank are they? the fos will uphold this, i think there's truth in what my mate beamer says on here about the banks running out of money and trying to buy time, they will have to payout in the end but will try to drag it out.

Hi Cappo,

Many thanks for your response. Being a newbie on here can you please tell me how I go about forwarding to FOS?

Many thanks


Metoyou

amersall

Kuffs1978 wrote: »

The loan was sold at 10.8% in 2007 and has never been more than its current rate of 10.89% Including PPI the repayments started at 246.62, then rose to £252.84 in Jan 2008, where it remained until 2009, then rose again to £261.15 where it has remained since. The only reason the annual interest charged has been slightly different is because during the months when her finances would allow, my sister has made excess payments (January 2009 she paid £661.16 alone, for example, whilst she also paid £700 during August of that same year). The bottom line is that she has paid at least 48 payments of £216.88 so far, so why should she pay more than she would have without the wretched PPI?

If the loan was fixed over 60 months and your sister has paid 48 payments and overpaid too,then the loan balance should be less than what they say it is now.
I really dont understand what they have done!!.

I can only reiterate what i said before,the interest on the ppi monthly payment for the 48 months she paid it up to redress date of the ppi,should not have reduced the balance of the loan,as it was refunded to your sis they have to put this back to the loan.

Did you get statements after the ppi had been taken off to show how the redress went to reducing the loan?.
Someone needs to explain how they dealt with this redress,i am sure if it is incorrect,your guy at the FOS will deal with this.

I have emailed Niggly,hopefully he can work out what they have done and tell you if this is right.

sjc03101972

Hi Cappo, thanks for responding will do what i can with the ones i have and go from there! fingers crossed

amersall

Kuffs1978 wrote: »

Hi everyone,

I hope you all had a peaceful Xmas and a good start to the new year.
I don't know if anyone replied to my last post; things have been more than a little difficult over the last month or so, and sadly that includes the PPI rebate situation. I'll be totally honest and say that I'm completely exhausted from this process; the guy at the FOS who's dealing with my case may still be on holiday and Norton Finance have not followed the Ombudsman's instructions that my loan repayments should be recalculated, and subsequently GE Money are potentially just 14 days away from serving a default notice. However, could some kind soul please tell us if our understanding of the following part of the Ombudsman's ruling is correct.

The part we're having trouble understanding reads:
"Norton cannot require X to reduce the loan beyond that which would now have applied had the PPI not been sold"

Does this mean that regardless of how many times my sister has paid the monthly instalment of £261.15 (including PPI) when the monthly amount without PPI would have been £216.88, whatever excess she has paid over the last 4 years will just be disregarded, and only NOW can she expect the monthly instalments to be £216.88? Or does it mean that since 48 payments of at least £216.88 had been paid, the difference between that figure and the £25.63 in PPI each month would count towards paying off the outstanding balance? It is very upsetting that we cannot find anyone who will help us understand this, and GE keep phoning and demanding more money than is owed. The loan agreement clearly states that without PPI the interest wiould have amounted to £3,009.20, yet my sister has already paid £11,334, but Norton claim she still owes £3354.20. We really don't understand. Please help.

Bumping this for Niggly xxxx

amersall

amersall wrote: »

The loan monthly payment will only reduce on the upheld verdict and not because of overpayments,the overpayments should have reduced the loan balance,it is the interest that is a sore point,is it variable or fixed?.


EDITED
All the monthly ppi paid by your sister was given back with the redress ,so the ppi overpayments did not come off the loan they came back to her.

amersall

silv.surfer wrote: »

Hi amersall

My Friend went to Bank Wed as arranged on our visit on 29th Dec primarly to collect PPI Agreement copy as request on 29th and ask for bit further back Transactions (my mistake on dates ) No PPI Agreement available as promised said different Dept - and they tried AGAIN to get him to fill in to Activate PPI on Phone while there- He told them No again !!! There is no recording disc of the Phone Sale of the PPI - so that leaves me to tell of frequent pressurising calls etc. and lack of proper questions asked by Salesman.

When I read the letter that came with the Transactions requested on 29th Dec and found Barclays have charged £5 again which I paid on My Card on 29th so I have just put a note through his letterbox this evening that he has to go in Friday and tell them to refund Immediately and wait while they do it. I have circled it on letter and put already paid - told him to show them the letter and if necessary my note to him to go in again on Friday - inconveniece. and Get their act together

We will be phoning on Monday to get copy PPI Agreement and I will give them a blast for deducting £5 - and tell them to read request documents properly - noting I have paid £5 and insist on an apology to my Friend for removing extra £5 and any charges that have occured.

Do you think it would be a good idea to get my Friend to give me Authority to Deal with all this at Barclays - they are set on Conning him and it is lucky that he does exactly what I tell him and what not to do like signing anything but they are going to catch him out sometime when he doesnt know what to do and I am not there to advise

ammersall please have a look at this my latest and advise - it was posted couple of pages back - these pages add so quickly.

These threads are quicker than ferret up a drainpipe :rotfl:
I would get your friend to put it in writing,to give permission for you to deal with his affairs.
If you go to the bank with him then hand the permission letter over then.
Good luck x.